Sesen Bio Shares Down 35%
August 16 2021 - 1:05PM
Dow Jones News
By Josh Beckerman
Sesen Bio Inc. shares were recently down 35% to $1.37, following
a 57% decline on Friday when the company received a rejection
letter from the U.S. Food and Drug Administration for its Biologics
License Application for lead product candidate Vicineum.
On Monday, HC Wainwright downgraded Sesen to neutral from
buy.
Vicineum is being developed for the treatment of
BCG-unresponsive non-muscle invasive bladder cancer.
Sesen shares were below $1.50 at the beginning of the year. In
recent months, Sesen said it remained on track for potential FDA
approval in August.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
August 16, 2021 12:52 ET (16:52 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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